Singapore Stocks - Chip Eng Seng

Singapore Stocks - Chip Eng Seng

CES witness continuous selling today due to profit taking and probably some shorting. This stock looks like a battle ground for some punters who try to influence the price. Need to trade with care. However, trade distribution showed strong buying at 0.84 and a married deal at 0.835 at closing. This shows that it still enjoys strong support at below 0.85. As long as it does not go below 0.835, it is still holding and not a bull trap. If the price goes below 0.83, it would have been a bull trap and I would recommend selling it.

Singapore Stocks - Chip Eng Seng - update

Singapore Stocks - Chip Eng Seng - update.
Chip Eng Seng is a highly followed stock with strong support. High volume expected in coming trading sessions with renewed interest after it broke out emphatically from the triangle on Friday (05/Oct/07). Expect high ranging trading on Monday with price fluctuating from 0.835 ~ 0.88. Would expect strong support at 0.835. Next immediate resistance will be 0.895.

If fall below 0.835, it means bull trap. Will further descend to 0.78 and 0.755. Cut loss at 0.830.

Singapore Stocks - China PaperDye

Singapore Stocks - China Paper & Dye



Confirmation of new trend. However, seems to be in a range. Some pull back may be expected to hit bounce off 20-MA. Not 100% convinced about the rally.

Wait and see. Historically, this counter did not enjoy good support.

Singapore Stocks - Chip Eng Seng

Singapore Stocks Analysis - Chip Eng Seng
Chip Eng Seng - Construction. Analysed on 02/Oct/2007. Entered at 0.825 on 03/Oct/2007. Pulled back to 0.805 on the same day. Recovered to 0.825 on 04/Oct/2007.

Closed at 0.87 on 05/10/2007 Friday. Expected pull back on Monday (8/Oct/2007) to 0.85 or even to 0.84 during intra-day. Should close above 0.855 on Monday. Will average up between 0.85~0.87. Expected to test 0.90 with 5 trading sessions and test 1.00 with 4 weeks.

ComfortDelgro - waiting for direction

Singapore Stock Market



ComfortDelgro - Waiting for direction.

There seems to be a large triangle formation and Boillinger squeeze. This counter is waiting for the market to give a direction. Based on the current trend, there is potential change of trend soon.

Both RSI and MACD are indicating potential uptrend. This is a blue chip that is lagging behind. Soon enough, it will catch attention and start moving. Watch closely and prepare to enter between 1.96 ~ 2.00. No negative news associated so far. Should test 2.16 and 2.44 in 4 weeks.

Construction Counter - CSC

CSC - New Trend Formation since 26/10/07. Testing 0.38.

Ideal entry -.345~0.35. Still good to enter at below 0.39~0.40. If break 0.40 will test 0.45 and next will be 0.49. Take partial profit at 0.45.
Do not expect this counter to move like Lian Beng with strong rally. This is a smaller company with smaller support.

Construction sector still bullish at least until end of year. I have strong feeling that major construction counters will test all time high again.